by Amruth Sundarkumar | Apr 12, 2023 | Credit Ratings, Macroeconomic news
US Treasury yields continued to tick slightly higher yesterday by 3-5bp with markets awaiting the CPI print today. The 2Y yield is now back above the 4%-mark since going below the level at end-March. The peak fed funds was unchanged at 5%. US CPI YoY is expected to...
by Amruth Sundarkumar | Apr 11, 2023 | Credit Ratings, Macroeconomic news
US Treasury yields were slightly higher yesterday by 3-4bp across the curve. The peak fed funds was unchanged at 5%. Meanwhile, the probability of a 25bp rate hike in the May meeting continued to rise, now at 72% as per the CME’s maximum probabilities as...
by Amruth Sundarkumar | Apr 10, 2023 | Credit Ratings, Macroeconomic news
US Treasuries saw a sharp sell-off after the solid jobs report on Friday with front-end yields leading the move. The 2Y US Treasury yield surged 18bp higher while the 10Y benchmark climbed 7bp. US Non-Farm Payrolls came at 236k for March, higher than the surveyed 230k...
by Amruth Sundarkumar | Apr 6, 2023 | Credit Ratings, Macroeconomic news
US Treasuries continued to rally with the 2Y and 10Y yields down by 6-8bp. US ADP employment data came at 145k, below estimates of 210k and also a decrease from February’s revised print of 261k. Also, US ISM Non-Manufacturing PMI for March came at 51.2, below...
by Amruth Sundarkumar | Apr 5, 2023 | Credit Ratings, Macroeconomic news
US Treasuries continued to rally across the curve with the 2Y and 5Y yields down by 11-13bp. First, US JOLTS Job Openings dropped by 623k to 9.9mn in February, the lowest since May 2021, and below estimates of 10.5mn, suggesting a cooling labor market. Secondly, in a...
by Amruth Sundarkumar | Apr 4, 2023 | Credit Ratings, Macroeconomic news
US Treasury yields dropped lower across the curve as high frequency data showed a contraction in economic activity. US 2Y and 5Y yields were own the most, by 12bp each. ISM data showed that US factory activity contracted by more than expected. March ISM Manufacturing...
